Delete Emails older than X days in Exchange 2003
You could use the tool ExMerge. Here is a decription how to delete messages on the server using that utility:
How do I use EXMERGE to delete specific messages from Exchange 2000/2003 mailboxes?
You can download Exmerge in Microsoft's Download area.
Here is a screenshot of the selection criteria (by date):
(source: petri.co.il)
You can use the Mailbox Manager Settings in the Recipient Policies to set a retention limit on email messages.
You can read the steps on how to accomplish this in KB319188.